Bharat Petroleum to buy stake in Mozambique oil asset

August 28th, 2008 - 4:12 pm ICT by IANS  

New Delhi, Aug 28 (IANS) State-run Bharat Petroleum Corp is acquiring a 10 percent stake in an offshore hydrocarbons exploration and production asset in Mozambique for $75 million, it was announced Thursday.The acquisition, negotiated with the US-based Anadarko and the Mozambique government, is being made by the company’s subsidiary Bharat PetroResources.

Videocon Energy Ventures, a company in the stable of the Dhoots, has also acquired a 10 percent stake in the venture.

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